Younger generation feels more cautious about buying a home

By Sean Parker, Deseret News

Published: Wednesday, Oct. 24 2012 12:20 p.m. MDT

Though people ages 18 to 35 want to own a home, 69 percent say the housing bust has helped them know more about buying a home than their parents did at their age.

Mark Lennihan, AP

Enlarge photo»

Summary

Though people ages 18 to 35 want to own a home, 69 percent say the housing bust has helped them know more about buying a home than their parents did at their age

Though people ages 18 to 35 want to own a home, 69 percent say the housing bust has helped them know more about buying a home than their parents did at their age, according to MarketWatch, citing a study by Better Homes and Gardens Real Estate.

“They’re not going to end up getting into a situation that they’ve seen … where they can’t keep the house” because they can no longer afford it, Matt Rand, managing partner of Better Homes and Gardens Rand Realty, told Marketwatch.

Those surveyed are optimistic about eventually owning a home. Forty percent would work at a second job and 23 percent say they would live with their parents in order to save up for a home.

Sixty-nine percent of people ages 18 to 35 won’t buy a home until they have enough money saved up to keep the purchase from impacting their form of living.

Seventy-five percent of the 1,001 people surveyed see homeownership as a crucial indicator of success.

EMAIL: sparker@desnews.com

TWITTER: @SeanRParker

Comments